Rupee Vs Dollar Today: The rupee settled at 75.52 against the dollarContinuing its losing streak for session in a row, the rupee compromised by 16 paise against the US dollar on Tuesday, October 12, tracking a stronger American currency and company crude oil rates.
At the interbank forex market, the domestic unit opened at 75.41 and registered an intra-day high of 75.16.
It witnessed a low of 75.66.
In an early trade session, the regional system slipped 6 paise to 75.42 against the greenback.On Monday, October 11, the regional system declined by 37 paise to close at a 15-month low of 75.36 versus the US dollar.
The dollar index, which assesses the greenback's strength against a basket of six currencies, was trading 0.02 percent up at 94.33.
What experts sayAnindya Banerjee, DVP, Currency Derivatives - Interest Rate Derivatives at Kotak Securities Limited: The USDINR spot closed 16 paise greater at 75.51, the greatest level because July 2020, in a volatile session of trading.
There might have been intervention from RBI at higher levels, combined with bumpy business flows which pressed rates lower however increasing oil prices and firming United States bond yields kept bids alive.
Over the near term, predisposition stays up.
Mr Amit Pabari, MD, CR Forex: Rupee has been toiled with the double whammy result of elevated petroleum rates and a strengthened dollar.
Energy crunch across the Asia to Europe belt have actually resulted in sharp rise in oil costs and restored concerns of hot-steaming inflation.
Being India importing almost 80 percent of its oil requires, high costs result in increased imported inflation thus putting rupee under pressure.Going ahead, investors will key an eye on India's September CPI Inflation numbers and the Industrial Output for August due today for additional drive in rupee.
The only positive for rupee stays the upcoming IPO by almost 35 companies seeking to raise roughly Rs 800 billion from Oct-Dec.
On other side, the roofing of 75.50-75.60 is functioning as a stiff resistance, if broken then we could see a relocation towards 75.80 to 76.00 levels over the near term.
It will be watchful to see whether RBI intervenes to safeguard rupee beyond these levels or not.
Domestic Equity Markets Today: On the domestic equity market front, the BSE Sensex ended 148.53 points or 0.25 percent greater at 60,284.31, while the wider NSE Nifty climbed up 46.00 points or 0.26 percent to 17,991.95.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Limited: It was a volatile session for the markets but bulls gained strength in late trades as Nifty when again breached the 18,000 mark prior to ending a little bit lower listed below the psychological mark.
On everyday and intraday charts, Nifty has formed an appealing higher bottom formation.
The intraday structure recommends 17850 might be the pattern decider level for the bulls.
Above the exact same, the uptrend formation is most likely to continue as much as 18050-18125 levels.
According to exchange information, the foreign institutional investors were net sellers in the capital market on October 11 as they unloaded shares worth Rs 1,303.22 crore.
Brent unrefined futures, the global oil benchmark, advanced 0.29 percent to $ 83.89 per barrel.